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Educational society

Kunal Verma (Accountant) (83 Points)

26 May 2012

Under What Status Code, The Income Tax Return of an Education Society will be filed?

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6 Replies

Prateek Agarwal (Sr. Executive - Finance & Accounts) (1732 Points)
Replied 26 May 2012

Educational Societies are governed by a trust. Hence, the status if trust may be assumed.

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CA SANDESH MAHIPAL (Practicing in GST and MSME ) (1985 Points)
Replied 26 May 2012

Yeah...Mr. Parteek Aggarwal is Right.

Educational Societies are covered under Trust.

Kunal Verma (Accountant) (83 Points)
Replied 27 May 2012

which form will be used for it?

Kunal Verma (Accountant) (83 Points)
Replied 27 May 2012

By the way Trusts and the Socities are different and also they have different acts for them?

Prateek Agarwal (Sr. Executive - Finance & Accounts) (1732 Points)
Replied 28 May 2012

Hi Kunal,

Although trusts and societies are different, still there is no such educational institution which is run by a society. They are always run by a Trust. For trusts, use ITR-7

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Kunal Verma (Accountant) (83 Points)
Replied 30 May 2012

Itr 7 is used for filing return under section 139(4a), (4b), (4c) nd (4d). But the society is not registered for exemption under section 12A. It is only reg under socities reg act 1860. What in this case?